The crypto community has recently been buzzing about the potential of crypto-based AI coins, especially following Nvidia’s impressive price rally. Amid a recent correction in the cryptocurrency market, digital assets related to Artificial Intelligence (AI) projects have experienced a significant decline in the past few months. However, as the world continues to witness the growing adoption of AI technology in various fields, it’s likely that we’ll see a surge in these markets before long.
Currently, AI coins are trading at a discount, offering potential buyers an attractive investment opportunity. Some of the AI coins that have caught investors’ attention recently include Graph (GRT), SingularityNet (AGIX), and Render Token (RNDR).
Graph (GRT) is currently rebounding between two converging trendlines of a triangle pattern. As the price action continues to be squeezed, a higher volatility in the coming days is expected. With the prevailing trend being bullish, the GRT price is likely to breach the overhead trendline and provide traders with a long entry opportunity. In the event of a breakout, prices may climb 81% higher to reach a peak of $0.232.
SingularityNet (AGIX) is showing signs of a potential rally following the breakout from a resistance trendline of a channel pattern. At present, this altcoin is trading at $0.294, with an intraday loss of 1.34%. If it can sustain itself above the breached trendline, it could pave the way for further price rallies. The post-breakout rally could potentially send the AGIX price to $0.366, followed by $0.45, and finally $0.588 – representing a maximum gain of 98%.
Render Token (RNDR) is forming a rounding bottom pattern in the daily time frame chart, which is a common setup at market bottoms. This trend change, as per Dow theory, reflects new higher highs and lows in price action. Currently, the RNDR price is trading at $2.59, attempting to find suitable support near the recently reclaimed horizontal resistance level of $2.5-$2.49. If the bulls manage to defend this level, the coin could rise 28% to challenge a long-standing monthly resistance of $3.32. A successful flip above this barrier could extend the bullish recovery to $4.27, followed by $2.5, and $6.5.
It is essential to emphasize that the content presented here may contain personal opinions and is subject to market conditions. Market research should always be conducted before investing in cryptocurrencies, and neither the author nor the publication can be held responsible for any personal financial loss.
Source: Coingape
